AD Ports buys Spain’s Balenciaga shipyard for €11.2m to expand offshore wind push

Dubai: AD Ports Group has expanded its European maritime footprint with the acquisition of Balenciaga Astilleros Shipyard in Spain for €11.2 million, strengthening its shipbuilding, repair, and offshore wind capabilities.

The Abu Dhabi-listed group said its subsidiary SAFEEN Drydocks, part of Noatum Maritime, has acquired 100 percent ownership of the shipyard, one of Spain’s longest-established and most technologically advanced maritime facilities.

The transaction consolidates AD Ports Group’s operations in Spain and the wider Mediterranean region and supports its strategy of building capacity in specialised offshore and renewable energy-related marine services.

Located in Spain’s Basque region, the facility will operate under the name Balenciaga Shipyard.

The site brings nearly 100 years of shipbuilding experience and a production platform designed for complex and high-specification vessels. Infrastructure includes two drydocks, a 105-metre slipway, and a 22,385 square metre factory equipped with advanced automation and fabrication systems. The shipyard also includes a 3,530 square metre cutting and manufacturing facility.

The shipyard is recognised in European maritime markets for its structural prefabrication of large offshore modules and its construction of technically complex vessels.

It is among a limited number of Spanish yards specialising in Service Operation Vessels, or SOVs, which function as floating bases for offshore wind farms. The yard also builds research vessels, offshore support vessels, and specialised tugboats.

The acquisition directly supports AD Ports Group’s ambitions in offshore wind.

Demand for specialised SOVs is expected to rise as offshore wind capacity expands across Europe and other global markets. These vessels are essential for transporting technicians, equipment, and supplies to offshore wind farms and supporting long-duration operations at sea.

Balenciaga Shipyard’s geographic position offers direct access to the North Sea and major European offshore wind markets, strengthening its ability to compete for newbuild and conversion projects linked to renewable energy infrastructure.

The purchase also complements AD Ports Group’s recently announced partnership with Masdar to collaborate on offshore wind project development and delivery.

Together, these moves point to a coordinated strategy focused on embedding the group deeper into the offshore renewable energy value chain, spanning vessel construction, maintenance, and marine logistics.

Balenciaga Shipyard will be integrated into SAFEEN Drydocks’ growing international portfolio.

SAFEEN Drydocks operates ship repair, maintenance, and conversion facilities serving commercial shipping, offshore operators, and government fleets. The addition of a highly specialised European yard expands the subsidiary’s technical scope and geographic reach.

Captain Ammar Al Shaiba, Chief Executive of the Maritime and Shipping Cluster at AD Ports Group, said the deal reflects a strategy of targeted international expansion and portfolio diversification.

He said the shipyard’s expertise in advanced vessel construction, particularly for offshore wind, will support the group’s long-term ambitions and enable knowledge transfer and best-practice integration across its global operations.

The acquisition strengthens AD Ports Group’s capacity to support the clean energy transition through maritime infrastructure, while also expanding its presence in high-value European industrial markets.

AD Ports Group said the investment is expected to generate more than 50 skilled jobs at the shipyard.

The facility enters the group’s portfolio with an existing pipeline of specialised vessel projects, alongside future work sourced through SAFEEN Drydocks, AD Ports Group’s international partners, and the group’s own fleet requirements.

The shipyard is positioned to serve both external clients and internal demand, supporting new vessel construction, structural fabrication, and repair and maintenance programmes.

For AD Ports Group, the deal deepens operational capabilities at a time when shipping, offshore construction, and renewable energy markets are converging around more technically complex vessels and higher compliance standards.

European offshore wind capacity continues to expand, driving sustained demand for specialised marine assets and fabrication facilities.

Shipyards capable of delivering SOVs, offshore support vessels, and modular structures occupy a critical role in this supply chain. Limited availability of such facilities has increased their strategic value to port operators, logistics groups, and offshore developers.

By acquiring Balenciaga Shipyard, AD Ports Group secures a production base within one of the world’s most active offshore wind regions.